South Korean telecom giant KT, previously known as Korea Telecom, has announced its intention to spend $5.3 billion (7 trillion won) in AI service research and development spanning over the next five years. Thus, solidifying its position as a forerunner in the area amid the AI industry’s fast expansion. KT
June 24, 2023 2 mins read
South Korean cryptocurrency investment platform Haru Invest reportedly fired off more than 100 employees. On June 23 the layoffs will be formalized. Several days after suspending deposits and withdrawals owing to a problem with one of its service suppliers. The firm made this decision. Recent reports state that Haru Invest
June 22, 2023 1 min read
The MakerDAO team, creators of the DAI stablecoin, recently announced the successful completion of a $700 million USD Treasury bond purchase. The project said in a press statement that it now has a total bond allocation of $1.2 billion. MakerDAO has already proposed raising the debt cap for MIP65 from
June 22, 2023 1 min read
On Wednesday, Bitcoin and Ethereum values touched their highest point in six weeks, marking a general resurgence in the cryptocurrency market. In the previous day, the price of Bitcoin has increased by 8% to over $29,000, while the price of Ethereum has increased by 6% to over $1800. Meanwhile, in
June 21, 2023 1 min read
Despite the electric vehicle (EV) titan reaching eight-month highs and up over 28% in June, the Cathie Wood-led Ark Invest business cut large Tesla stock holdings on Tuesday. The investment management business received $8.6 million in exchange for selling 31,500 of Elon Musk’s Tesla shares. Ark Invest, led by Cathie
June 21, 2023 1 min read
Joseph Tsai has been named the next Chairman of Alibaba Group, a Chinese technology corporation specializing in e-commerce, succeeding Daniel Zhang. The Taiwanese-Canadian business mogul is worth billions of dollars. And his name has been attached to a number of other cryptocurrency and digital asset-related endeavors. Blue Pool Capital, the
June 20, 2023 1 min read
Deutsche Bank AG, the biggest bank in Germany, has just submitted an application to the appropriate authorities to begin providing custody services for digital assets like cryptocurrencies. This change, according to Deutsche Bank’s head of commercial banking, David Lynne, is part of the bank’s larger goal to boost fee revenue
June 20, 2023 2 mins read
The IMF is stepping up its support for Central Bank Digital Currencies (CBDCs) being developed by countries throughout the globe. According to Reuters, the IMF is working on a worldwide platform to improve CBDC interoperability. IMF Managing Director Kristalina Georgieva said on Monday that the platform will facilitate transactions between
June 19, 2023 2 mins read
On Monday, the Basic Court of Montenegro decided in favor of the prosecution in the passport falsification case, convicting Terra co-founder Do Kwon and former CFO Han Chang-joon. Within the next six months, Montenegrin officials will have completed their investigation and legal process necessary to extradite Terra co-founder Do Kwon
June 19, 2023 1 min read
The London Lions, a professional basketball club in the United Kingdom, has taken a tentative step into the crypto realm by forming a partnership with BitPay to accept digital currencies for goods purchases. In a first for the crypto and sports worlds, the alliance essentially means the professional basketball team
June 17, 2023 1 min read
